Chinese investment firm Wanda Group has sold off the majority of its stake in AMC Theatres, exiting the U.S. movie theatre business. Dalian Wanda Group, owned by former Chinese Tycoon Wang Jianling, announced on its official website that, as of May, it has officially liquidated all its assets in AMC Entertainment Holdings Inc. and resigned their chairperson seat on AMC’s board of directors. Wanda, which had a controlling stake in the massive U.S. theater chain, received a cumulative return of $1.476 billion. According to Wanda, this is double the amount of its initial investment, which it says was $700 million. In the public announcement, Wanda broadcast its achievements after acquiring AMC, which included successfully merging with and listing AMC Inc., making it the largest cinema chain in the world. Other related companies were also acquired, including America’s fourth largest cinema company, Carmike, for $1.2 billion, European cinema chains Odeon & …